United Bolero Development Corp.

United Bolero Development Corp.

March 09, 2005 08:00 ET

United Bolero Announces Recognition of Higher Grade Zone Within the Cannivan Gulch Molybdenum Deposit and Drilling Plans for 2005 Field Season


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: UNITED BOLERO DEVELOPMENT CORP.

TSX VENTURE SYMBOL: UNB

MARCH 9, 2005 - 08:00 ET

United Bolero Announces Recognition of Higher Grade
Zone Within the Cannivan Gulch Molybdenum Deposit and
Drilling Plans for 2005 Field Season

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 9, 2005) - United
Bolero Development Corp. (the "Company", "United Bolero")(TSX
VENTURE:UNB) is pleased to report that detailed computer modeling of
historic drill hole data by United Bolero (UNB) geologists has
identified a higher grade zone within the Cannivan Gulch Molybdenum
deposit that may be amenable to underground mining methods. Recent
computer work has also verified the extremely good continuity of
molybdenum mineralization within the defined deposit and it's geologic
controls. Cannivan Gulch was recently purchased, and is 100% owned by
UNB. The project is located 30 air miles southwest of Butte, Montana.
Historical drill hole data suggests the deposit contains a drill
indicated resource of over 360 million pounds of molybdenum metal that
is minable by open pit methods. Cannivan Gulch is a classic intrusive
and sediment hosted, quartz stockwork molybdenum deposit similar in size
and metal content to world class deposits located around the world.

The company has applied for an operating plan with the United States
Forest Service to begin a detailed comprehensive core drilling program
during 2005 designed to verify historical drill results, firm up the
high grade zone, and define the outer limits of mineralization. The main
deposit is still open at depth and to the north and south of presently
defined mineralization.

High Grade Zone

Verification and delineation of the high grade zone during 2005 will
allow for an early engineering evaluation of an underground mine that
could take advantage of an existing exploration adit that penetrates the
center of the zone. An underground mine could speed up the permitting
and positive cash flow of the project significantly. Molybdenum grades
within this zone are estimated to be averaging twice the grade of the
known deposit. Important intercepts from historic drill holes that
define a portion of the high grade zone are listed in the table below,
and a cross section through the zone is attached. A drill hole location
map showing historic and proposed 2005 core holes and the known outline
of significant molybdenum mineralization is also attached and will be
made available on the company's website located at www.unitedbolero.com.



Historic Drill Hole Intercepts (ft)
High Grade Zone

HOLE ID FROM TO INTERCEPT % MO

CG-1 260 457 197 0.1
CG-13 404 944 540 0.1
CG-18 920 1177 257 0.13
CG-22 440 533 93 0.1
550 1310 760 0.16

Including 690 750 50 0.28

Including 810 890 80 0.24
CG-23 140 410 270 0.15

Including 180 220 40 0.28
Including 350 390 40 0.27
470 530 60 0.22


Qualified Person

These results and comments have been prepared under the guidance of
Robert B. Hawkins, a geologist and independent consultant to UNB who is
designated as the Qualified Person with the ability and authority to
verify the authenticity and validity of this data.

On behalf of the Board of Directors,

William Morton, President & CEO, Director

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    United Bolero Development Corp.
    William Morton
    President & CEO, Director
    (604) 925-8898 or Toll Free: 1-888-0945-4770
    (604) 925-9897 (FAX)
    info@unitedbolero.com
    www.unitedbolero.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.